Chileans protest against Pinochet-era private pension scheme

Chileans protest against Pinochet-era private pension scheme

4 hours ago



AP
Organisers said more than one million people joined demonstrations across Chile



Hundreds of thousands of people across Chile have taken part in protests against the country's controversial privatised pension plan.

The scheme was launched in 1981, during the military government of General Augusto Pinochet.

Protesters say some 10 million people who joined have now been left with very low retirement incomes - less than minimum wage in many cases. They are calling for President Michelle Bachelet to scrap the scheme.

The Chilean pension fund system has been praised by pro-market politicians and economists across the world.

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